Data#3 has acquired Brisbane-based IT consulting firm Business Aspect Group for $6 million as part of its move into consultancy services.
Business Aspect Group was formed in 2005 and has 70 staff based across offices in Brisbane, Sydney, Canberra and Melbourne. In 2014, it reported revenues of $14 million and earnings before tax, depreciation and amortisation (EBITDA) of $1.3 million.
The Group provides strategy, risk, architecture and planning to customers in financial services, education, mining and government sectors.
Data#3 managing director John Grant said that Business Aspect Group will continue to operate as an autonomous business.
“As part of Data#3, it will be able to deliver end-to-end outcomes from strategy to IT implementation where it makes sense for its clients. Business Aspect’s partners will continue to manage the firm,” he said in a statement.
However, the Group's Brisbane office will be relocated into a dedicated area in Data#3’s head office.
According to Grant, Data#3 set its sights on building a consulting business after he noticed that customers needed help planning and managing their transition to a hybrid IT environment.
“With the skills and expertise Business Aspect Group brings, we are launching Data#3 into a more strategic market position where providing independent consulting services becomes a reality,” he said.
Commenting on the acquisition, Business Aspect Group managing partner Dave Lennon said it had been looking for a partner to take the company to the next stage of growth.
“We are delighted that the process identified Data#3, a company we have worked with before, as the best fit for what we see as a very significant opportunity for our people and clients,” said Lennon.
As part of the deal, Data#3 can acquire an additional 14.2 per cent share by 30 June 2015 and the remaining 43.3 per cent shares by 30 June 2017.
According to an ASX statement, Data#3 will provide $1 million in capital to fund the development of Discovery Technology, which has been providing Wi-Fi services to SME, enterprise and government clients since 1997.
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